Untitled document
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
TABLE OF PROVISIONS
Section Page PART 1—PRELIMINARY 1
1. Purpose 1 2. Commencement 2 PART 2—AMENDMENT OF EMERGENCY SERVICES
SUPERANNUATION ACT 1986 4
3. Amendment of section 3—definitions 4 4. Amendments relating to OSSA 5 5. Amendment of section 7—membership of Board 5 6. Amendment of section 8—Vacancies on Board 6 7. Section 11 substituted 6 11. Payment of members 6 8. Amendment of section 22A 6 9. New sections inserted 6 22B. Transfer of assets in respect of VEISF beneficiaries 7 22C. Provisions relating to transferred beneficiaries 9 10. Amendment of section 24 10 11. New section 29A inserted 10 29A. Specified standards 10 PART 3—AMENDMENT OF HOSPITALS SUPERANNUATION
ACT 1988 12
12. Amendment of definitions 12 13. Amendments relating to OSSA 13 14. Amendment of section 8—Term of office 13 15. New section 8A inserted 13 8A. Deputies 13 16. Consequential to section 15 14 17. Section 9 amended 14 18. Section 12 substituted 14 12. Payment of members 15 19. Amendment of section 30—contributions by members 15 20. Amendment of section 33—basic benefits 15 21. Amendment of section 37 (3) 16 22. Amendment of section 40A—definitions 16
i
Section Page
23. Amendment of section 40B—Membership of new scheme 17 24. Amendment of section 40D—member's contributions 18 25. Amendment of section 40F 19 26. Amendment of sections 40I and 40J 19 27. Amendment of section 40K 19 28. Amendment of section 40K—consequential 20 29. Section 40N substituted 20 40N. Transfer of preserved benefit 20 40O. Transfer to or from new scheme 20 40P. Transfer of benefits to other fund 21 30. Amendment of section 41 21 31. Amendment of section 42 22 32. Section 51A (1) amended 22 33. Repeals 22 34. Consequential repeal 23 35. New section 56A inserted 23 56A. Money owing to the Fund 23 36. New section 58B inserted 23 58B. Specified standards 24 PART 4—AMENDMENT OF LOCAL AUTHORITIES
SUPERANNUATION ACT 1988 25
37. Amendment of section 3—definitions 25 38. "Old benefits" Table 26 39. Amendment of section 3—leave 27 40. Amendments relating to OSSA 27 41. Amendment of section 11A—Vacancies on Board 28 42. Section 12 substituted 28 12. Payment of Directors 28 43. Amendment of section 27 28 44. Amendment of section 25 29 45. Amendment of section 34 29 46. Amendment of section 38A 29 47. Amendment of section 47E 29 48. Amendment of section 47F—Membership of new scheme 30 49. Amendment of section 47H—member's contributions 31 50. Amendment of section 47J 32 51. Amendment of section 47O—preservation 32 52. Amendment of section 47O—consequential 32 53. Section 47R substituted 32 47R. Transfer of preserved benefit 33 47S. Transfer to or from new scheme 33 47T. Transfer of benefits to other scheme 34 54. Sections 50(2) and 50A(1) amended 34 55. Repeal of sections 50A(2) and 50B 35 56. New section 50D inserted 35
ii
Section Page
50D. Specified standards 35
57. Amendment of section 53F 36 58. Amendment of section 53FA 36 59. Amendment of section 53G 37 60. Amendment of section 53H 37 PART 5—AMENDMENT OF MELBOURNE AND
METROPOLITAN BOARD OF WORKS ACT 1958 38
61. Repeal of sections 42(3) and 42A 38 62. New section 42A inserted 38 42A. Water Industry Superannuation Fund 38 63. Amendment of Regulations 39 PART 6—AMENDMENT OF PARLIAMENTARY SALARIES
AND SUPERANNUATION ACT 1968 40
64. Amendment of sections 7 and 8—salaries and allowances 40 65. Amendment of definitions 41 66. Section 11 substituted 43 11. Parliamentary Contributory Superannuation Fund 43 11A. Parliamentary Trustee 44 11B. Objectives and duties of the Parliamentary Trustee 45 11C. Functions and powers of the Parliamentary Trustee 46 67. Amendment of section 12 47 68. Amendment of section 13 49 69. Amendment of section 14 50 70. Amendment of section 15 51 71. Amendment of section 18B 51 72. Amendment of section 22 51 73. Sections 23 and 24 substituted 52 23. Entitlement to pension 52 24. Transfer of preserved benefit 53 24A. Money owing to the Fund 53 24B. Person may request Parliamentary Trustee to reconsider
decision 54 24C. Specified standards 55
74. Amendment of section 25 55 75. Consequential amendments 56 76. Amendment to Borrowing and Investment Powers Act 1987 56
iii
Section Page PART 7—AMENDMENT OF PUBLIC SECTOR SUPERANNUATION (ADMINISTRATION) ACT 1993 57
77. Amendment of section 3—definitions 57 78. Amendment of section 4 58 79. Amendment of section 6 58 80. Amendment of section 11—vacancies on Board 59 81. Amendment of section 11 59 82. Amendments relating to OSSA 59 83. Amendment of section 31 59 84. Amendment of section 33—member's contributions 61 85. Amendment of section 35 62 86. Amendment of sections 40 and 43—preservation 62 87. Amendment of section 40—consequential 62 88. Consequential amendments 63 89. Amendment of section 67 64 90. New section 68A inserted 64 68A. Specified standards 64 PART 8—AMENDMENT OF STATE EMPLOYEES
RETIREMENT BENEFITS ACT 1979 66
91. Amendment of section 2—definitions 66 92. Amendments relating to OSSA 67 93. Repeal of Part II (except section 18) 67 94. Amendment of section 23 67 95. Amendment of section 24 67 96. Amendment of section 25 68 97. Amendment of sections 25B and 34C 68 98. Amendment of section 34AB 69 99. Amendment of sections 37 and 38 69
100. Amendment of sections 51 and 56 69 101. New section 51A inserted 51A. Entitlement to pension
70
70 102. Amendment of section 60 71 103. New section 73 inserted 73. Specified standards
71
71 104. Repeal of sections 74A and 74B 72 105. New sections inserted 72
76. Provisions relating to certain water authorities 72 77. Provision relating to change of employment 75 78. Provisions relating to transfer of assets and liabilities 75
iv
Section Page PART 9—AMENDMENT OF STATE SUPERANNUATION ACT 1988 76
106. Amendment of section 3(1)—definitions 76 107. Amendment of section 4 77 108. Amendments relating to OSSA 77 109. Merger of Funds 78
16AA. Merger of Funds 78
110. Amendments relating to rates 79 111. Amendment of section 49 80 112. Amendment of sections 59 and 66 80 113. Amendment of sections 67 and 76 81 114. New section 67A inserted 67A. Entitlement to pension
81
81 115. Amendment of section 90 82 116. New section 92A inserted 92A. Specified standards
83
83 117. Amendment of section 94 84 118. New sections inserted 84
96. Provisions relating to certain water authorities 84 97. Provision relating to change of employment 86 98. Provisions relating to transfer of assets and liabilities 87
PART 10—AMENDMENT OF SUPERANNUATION (PUBLIC
SECTOR) ACT 1992 88 119. Amendments 88 PART 11—AMENDMENT OF SUPERANNUATION
(PORTABILITY) ACT 1989 89 120. Amendment of section 3—definitions 89 121. Amendment of section 6 89 122. New section 9 inserted 89
9. Option relating to certain members 89
123. Amendment of section 10 91 PART 12—AMENDMENT OF TRANSPORT SUPERANNUATION
ACT 1988 92 124. Amendment of section 3(1)—definitions 92 125. Amendment of section 4 93 126. Amendments relating to OSSA 93 127. Repeal of Part 3 (except section 22) 93 128. Amendment of section 27 93 129. Amendment of section 31 94 130. Amendments relating to rates 94
v
Section Page 131. Amendment relating to specified standards 95 132. Amendment of section 37 95 133. New section 53 inserted 53. Specified standards
96
96 PART 13—REPEALS AND MISCELLANEOUS 97 134. Repeals and miscellaneous 97
═══════════════
NOTES 99
vi
Victoria
No. 4 of 1996
Superannuation Acts (Amendment) Act
1996†
[Assented to 18 June 1996]
The Parliament of Victoria enacts as follows:
PART 1—PRELIMINARY
1. Purpose
The purpose of this Act is to amend certain specified Superannuation Acts to further improve the administration of public sector superannuation schemes.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 2
2. Commencement
(1) Subject to this section, this Act comes into
operation on the day on which it receives the
Royal Assent.
(2) Section 110(3) is deemed to have come into operation on 1 July 1988.
(3) Section 110(4) is deemed to have come into operation on 30 November 1993.
(4) Section 38 is deemed to have come into operation on 27 July 1995.
(5) Section 58 is deemed to have come into operation on 1 November 1995.
(6) Sections 91(2) and 106(2) are deemed to have come into operation on 5 December 1995.
(7) Sections 107 and 125 are deemed to have come into operation on 19 December 1995.
(8) Section 122 is deemed to have come into operation on 7 February 1996.
(9) Sections 19, 25, 31, 39(c), 50, 85 and 95(b) are
deemed to have come into operation on 1 March
1996.
(10) Sections 3, 9, 10, 60, 63, 105 and 118 are deemed to have come into operation on 1 May 1996.
(11) Sections 62, 83, 87, 91(1), 92, 93, 109, 110(1),
110(2), 110(5), 111, 112, 113, 124, 126, 127, 128,
129 and 130 are deemed to have come into
operation on 31 May 1996.
(12) Sections 4, 11, 12, 13, 20, 21, 22, 27, 36, 37(1),
37(3), 46, 51, 56, 57, 59, 61,65, 66, 67, 71, 72, 73,
74, 75, 76, 77, 78, 79, 86, 89, 90, 98, 99, 103,
106(1), 108, 115, 117, 119, 120, 123, 131, 133,
134(2), 134(4), 134(7) and 134(13) come into
operation on 30 June 1996.
Superannuation Acts (Amendment) Act 1996
| s. 2 | Act No. 4/1996 |
(13) Sections 8, 14, 15, 16 and 17(2) come into operation on 1 August 1996.
(14) Section 37(2) comes into operation on 1 March
1997.
_______________
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 3
PART 2—AMENDMENT OF EMERGENCY SERVICES
SUPERANNUATION ACT 1986
3. Amendment of section 3—definitions
In section 3 of the Emergency Services
Superannuation Act 1986—
(a)
for the definition of "actuary" substitute— '"actuary" means a fellow or accredited
member of the Institute of Actuaries of
Australia approved by the Minister;';
(b)
after the definition of "Board" insert— '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income TaxAssessment Act 1936;';
(c)
after the definition of "contributor" insert— '"disability" means—
(a) if a disability benefit insurance policy is in force in respect of a member, disability as defined in or for the purposes of that policy; or
(b) contributor or member before the
age of 60 years due to ain any other case, the inability of a disease or infirmity to ever—
Superannuation Acts (Amendment) Act 1996
| s. 4 | Act No. 4/1996 |
(i) perform his or her duties; and
(ii) perform any other duties for which he or she is suited by education, training or
experience or for which he or
she would be suited as a
result of retraining—as determined by the Board on the
basis of reports provided by at
least 2 registered medical
practitioners appointed by theBoard;'.
(d)
the definition of "occupational superannuation standards" is repealed;
(e)
after the definition of "Scheme" insert— '"specified standards" means standards specified
under section 29A;'.
4. Amendments relating to OSSA
(1) Sections 6(2)(ba), 6(2A), 31(2) and 31(4) of the
Emergency Services Superannuation Act 1986
are repealed.(2) In section 31(3) of the Emergency Services Superannuation Act 1986 omit "relating to occupational superannuation standards".
5. Amendment of section 7—membership of Board
(1) After section 7(1) of the Emergency Services
Superannuation Act 1986 insert—
'(1A) A reference to a "contributor" in
sub-section (1) and section 8(1)(d) includes a
person who is a member of the ESSPLAN
Scheme under section 4(7) or a contributor
who has made contributions to the
ESSPLAN Scheme.'.
Superannuation Acts (Amendment) Act 1996
s. 6
s. 9
Act No. 4/1996
(2) After section 7(6) of the Emergency Services
Superannuation Act 1986 insert—
"(6A) Despite sub-section (6), the term of office of an elected member of the Board may exceed 5 years but not 6 years if the member is
elected to fill a casual vacancy in respect of a
member who had an unexpired term of lessthan 1 year.".
6. Amendment of section 8—Vacancies on Board
After section 8(1)(b) of the Emergency Services
Superannuation Act 1986 insert—"(c) is convicted of an offence against a law of
the State of Victoria or a law of the dishonest conduct; or".
Commonwealth or of another State or of a
7. Section 11 substituted
For section 11 of the Emergency Services
Superannuation Act 1986 substitute—"11. Payment of members
Each member is entitled to be—
(a)
paid such remuneration as the Governor in Council fixes from time to time; and
(b)
reimbursed for expenses incurred in the course of performing the duties of office which are expenses approved by the Board.".
8. Amendment of section 22A
In section 22A(1) of the Emergency Services
Superannuation Act 1986 after "Police Pensions
Fund" insert " and the assets and liabilities of thePolice Superannuation Fund".
9. New sections inserted
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
After section 22A of the Emergency Services
Superannuation Act 1986 insert—
'22B. Transfer of assets in respect of VEISF
beneficiaries
(1) In this section and section 22C—
"transfer date" means 17 June 1996 or
such earlier date as is specified in the
agreement;
"transferred beneficiary" means a
beneficiary in the Victorian Electricity Industry Superannuation Fund who—
(a) first became entitled under Victorian Electricity Industry Superannuation Fund to a pension on or before 30 June 1995 or who becomes entitled after 30 June 1995 due to the death of the first beneficiary after that date; or
(b) retirement benefit under the
Superannuation (Portability)elected to take a deferred accrued 1995;
"VEI Super Pty Ltd" is the same body and
has the same meaning as SECV the Electricity Industry Act 1993;
"Victorian Electricity Industry
Superannuation Fund" has the same
meaning as in section 84 of the
Electricity Industry Act 1993.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 9 (2) With the approval of the Minister, VEI Super
Pty Ltd must enter into an agreement with the Board which specifies—
(a)
the liability of the Victorian Electricity Industry Superannuation Fund up to the transfer date in respect of the
entitlements of transferred beneficiaries
as determined by an actuary appointed
by VEI Super Pty Ltd; and(b)
the value of assets of the Victorian Electricity Industry Superannuation Fund equal to the liability of the
Victorian Electricity Industry
Superannuation Fund under paragraph
(a) that are to be transferred to the
Scheme; and(c)
the terms and conditions which apply to the transfer of these assets to the scheme.
(3) If agreement cannot be reached before 1
June 1996, the Minister may determine the matters specified in sub-section (2) or which are in dispute and VEI Super Pty Ltd and the Board are deemed by virtue of this sub-section to have entered into an agreement containing the matters determined by the Minister.
(4) VEI Super Pty Ltd must transfer the assets
specified in the agreement to the Scheme.
(5) As soon as the assets specified in the
agreement have been transferred, the assets
form part of the Scheme.(6) No stamp duty or other tax is chargeable
under any Act in respect of anything done
under this section.
Superannuation Acts (Amendment) Act 1996
| s. 9 | Act No. 4/1996 |
(7) VEI Super Pty Ltd is released from any liability in respect of the entitlements of transferred beneficiaries as soon as the assets
specified in the agreement have been
transferred.
22C. Provisions relating to transferred
beneficiaries
(1) Despite the transfer of a beneficiary under section 22B to the Scheme—
(a) the transferred beneficiary is entitled to receive the same benefits that he or she would have been entitled to receive had he or she not been so transferred; and (b) have his or her rights and obligations
determined in accordance with the
provisions of the governing instrument
of the Victorian Electricity Industrythe transferred beneficiary is entitled to immediately before the transfer date.
(2) For the purposes of sub-section (1) the Board
the duties and powers conferred on VEI
has in respect of the transferred beneficiary the governing instrument of the Victorian Electricity Industry Superannuation Fund as in force immediately before the transfer date. (3) Without derogating from sub-sections (1) and (2), sections 23 and 24 apply to and in respect of a transferred beneficiary.'.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 10
10. Amendment of section 24
(1) In section 24 of the Emergency Services
Superannuation Act 1986—
(a)
in sub-section (1) for "a report from a medical officer of the Board" substitute "reports from at least 2 registered medical practitioners appointed by the Board as medical officers for the purposes of this Act";
(b)
in sub-section (2) for "a report from the medical officer" substitute "the reports from the medical officers".
(2) After section 24(2) of the Emergency Services
Superannuation Act 1986 insert—
"(3) This section extends and applies to—
(a)
a member or former member of the ESSPLAN Scheme;
(b)
a transferred beneficiary within the meaning of section 22B.".
11. New section 29A inserted
After section 29 of the Emergency Services
Superannuation Act 1986 insert—
"29A. Specified standards
(1) The Governor in Council may by Order in
Council—
(a)
specify standards and conditions for the preservation of specified employer and member contributions; and
(b)
specify the method, manner and form in which preserved contributions may be paid as a benefit; and
Superannuation Acts (Amendment) Act 1996
| s. 11 | Act No. 4/1996 |
(c) specify maximum fees and charges specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
of any document, code, standard, rule,
specification or method whether as
formulated, issued, prescribed ormay apply, adopt or incorporate (with Council is made.".
_______________
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 12
PART 3—AMENDMENT OF HOSPITALS
SUPERANNUATION ACT 1988
12. Amendment of definitions
(1) In section 3(1) of the Hospitals Superannuation
Act 1988—
(a)
for the definition of "actuary" substitute— '"actuary" means a fellow or accredited
member of the Institute of Actuaries of
Australia approved by the Minister;';
(b) after the definition of "Board" insert— '"casual employee", other than in Part 6A, means a casual employee as defined by the relevant award determinations or an employee deemed by the Board to be a casual employee;
"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income Tax
Assessment Act 1936;';
(c) the definitions of "Government Actuary" standards" are repealed;
(d)
after the definition of "service" insert— '"specified standards" means standards
specified under section 58B;'.
Superannuation Acts (Amendment) Act 1996
| s. 13 | Act No. 4/1996 |
(2) In section 24(1) of the Hospital Superannuation
Act 1988 the definition of "casual employee" is repealed.
13. Amendments relating to OSSA
Sections 6(2)(ba), 6(2A) and 59(1A) of the
Hospitals Superannuation Act 1988 arerepealed.
14. Amendment of section 8—Term of office
After section 8(1) of the Hospitals
Superannuation Act 1988 insert—"(1A) Despite sub-section (1), the term of office of an elected member of the Board may exceed 5 years but not 6 years if the member is
elected to fill a casual vacancy in respect of a
member who had an unexpired term of lessthan 1 year.".
15. New section 8A inserted
After section 8 of the Hospitals Superannuation
Act 1988 insert—
"8A. Deputies(1) Each member of the Board is to have a
deputy nominated or elected in the same
manner as the member and appointed by the
Governor in Council.
(2) The deputy of a member of the Board is to
act in the case of illness, suspension or
absence of that member.
(3) A deputy has while acting as a member of the Board the powers and authority of the member.
(4) A person may act as the deputy of more than
one member of the Board except for the
purposes of forming a quorum or voting on a
Superannuation Acts (Amendment) Act 1996
s. 16
s. 18
Act No. 4/1996
resolution, provided that the deputy is
nominated or elected in the same manner asall of those members.".
16. Consequential to section 15
(1) In the Hospitals Superannuation Act 1988—
(a) in section 7(3) for "the regulations" Board";
(b) sections 10 and 59(1)(f) are repealed.
(2) The Hospitals Superannuation Board Election Regulations (Statutory Rule No. 422/1988) are revoked by virtue of this section.
17. Section 9 amended
(1) After section 9(1)(b) of the Hospitals
Superannuation Act 1988 insert—
"(c) is convicted of an offence against a law of
the State of Victoria or a law of the dishonest conduct; or"
Commonwealth or of another State or of a
(2) For sections 9(2) and 9(3) of the Hospitals
Superannuation Act 1988 substitute—
"(2) If a member of the Board dies or otherwise
ceases to be a member of the Board—
(a)
the deputy of that member is to be appointed by the Governor in Council to fill the vacancy; or
(b)
if there is no deputy, the Governor in Council may appoint a person nominated or elected in the same manner as that member was nominated or elected to fill the vacancy.".
18. Section 12 substituted
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
For section 12 of the Hospitals Superannuation
Act 1988 substitute—"12. Payment of members
Each member of the Board is entitled to be—
(a)
paid such remuneration as the Governor in Council fixes from time to time; and
(b)
reimbursed for expenses incurred in the course of performing the duties of office which are expenses approved by the Board.".
19. Amendment of section 30—contributions by members
(1) In section 30(4B)(a) of the Hospitals
Superannuation Act 1988, after "2%" insert investigation under section 23 and which is specified in the actuary's report)".
"(or such other percentage as is first determined
by an actuary after the commencement of section
19(1) of the Superannuation Acts (Amendment)(2) Section 30(6) of the Hospitals Superannuation Act 1988 is repealed.
20. Amendment of section 33—basic benefits
(1) In section 33(3)(c) of the Hospitals
Superannuation Act 1988 for "by a participating institution from the age of 55 years" substitute "from the age of 55 years except for that part of the benefit which is subject to the specified standards".
(2) In section 33(3) of the Hospitals Superannuation
Act 1988 omit—
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 21 (a) "or" after paragraph (c); and
(b) paragraph (d).
21. Amendment of section 37 (3)
In section 37 (3) of the Hospitals Superannuation Act 1988 for "of a participating institution from the age of 55 years until the age of 65 years" substitute "from the age of 55 years except for that part of the deferred benefit which is subject to the specified standards".
22. Amendment of section 40A—definitions
In section 40A of the Hospitals Superannuation
Act 1988—
(a) in the definition of "casual employee" for "and an" substitute "or an"; (b) before the definition of "casual employee" '"beneficiary's account" means a
beneficiary's account established and
maintained by the Board for eachbeneficiary under section 40HB;';
(c) the definition of "Commonwealth superannuation law" is repealed. (d) for the definition of "complying '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Superannuation Acts (Amendment) Act 1996
| s. 23 | Act No. 4/1996 |
| Commonwealth Income Tax Assessment Act 1936;'; |
(e) paragraph (e) for "Commonwealth
in the definition of "net earning rate" in standards".
23. Amendment of section 40B—Membership of new scheme
(1) In section 40B(2) of the Hospitals
Superannuation Act 1988 for "any relevant
Commonwealth superannuation law" substitute"sub-section (3A)".
(2) In section 40B(3) of the Hospitals
Superannuation Act 1988 for "A" substitute
"Subject to sub-section (3A), a".
(3) After section 40B(3) of the Hospitals
Superannuation Act 1988 insert—
"(3A) A person is eligible to remain or become a
member of the new scheme even if that
person has attained the age of 65 years if that
person is or becomes an employee of a
participating employer and sub-section (3B)
or (3C) would permit that person to make
contributions or to be the subject of
contributions to the new scheme.
(3B) Subject to sub-section (3C), a member of the new scheme is eligible to make contributions or to be the subject of contributions to the
new scheme after attaining the age of 65
years if that member was at least 60 years of
age on 1 July 1990, until that member attains
the age of 70 years.
(3C) Except as provided in sub-section (3B), a
member of the new scheme is eligible to be
the subject of contributions to the new
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 24
scheme after the member has attained the age to satisfy the employer's obligation to make contributions for that member under a contract of employment or any employment agreement made on or before 1 July 1986 under any law of Victoria or the Commonwealth of Australia.
of 65 years only if the contributions are
required to reduce the employer's liability
under the Commonwealth Superannuation
(3D) A person to whom sub-section (3A) applies is taken for the purposes of this Act to have ceased to be an employee of a participating employer upon that person attaining the age
of 70 years.".
(4) In sections 40B(4), 40B(5), 40E(2)(d) and
40E(3)(f) of the Hospitals Superannuation Act
1988 for "scheme" substitute "fund".
(5) In section 40B(6)(c) of the Hospitals
Superannuation Act 1988 for "scheme or superannuation arrangement" substitute "fund".
(6) In sections 40HA(3)(a)(ii) and 40HA(3)(b)(ii) of
the Hospitals Superannuation Act 1988 for "scheme or arrangement" substitute "fund".
24. Amendment of section 40D—member's contributions
For section 40D(3) of the Hospitals
Superannuation Act 1988 substitute—"(3) If a person who becomes a member in
accordance with section 40B(1)(a) is
required to contribute to a superannuation
fund and his or her employer is a
participating employer who is required under
a law of the Commonwealth of Australia to
Superannuation Acts (Amendment) Act 1996
| s. 25 | Act No. 4/1996 |
contribute to the new scheme in respect of
the member under section 40C(1)—
(a)
the member is deemed to have elected to make contributions to the new scheme which are not less than the contributions required of the member; and
(b)
the contributions are to be made by deductions from the salary of the member.".
25. Amendment of section 40F
At the end of section 40F(5) of the Hospitals Superannuation Act 1988 insert "and is a medical condition in respect of which a contract of insurance is not available at a reasonable cost".
26. Amendment of sections 40I and 40J
In the Hospitals Superannuation Act 1988—
(a) in sections 40I(2) and 40I(3)—
(i) after "member of the new scheme" insert "or a beneficiary";
(ii) after "member's account" insert "or beneficiary's account";
(b) in section 40I(4) after "member's" (where twice occurring) insert "or beneficiary's"; (c) in sections 40J(1) and 40J(2) after beneficiary's".
27. Amendment of section 40K
(1) In section 40K(2) of the Hospitals
Superannuation Act 1988 for "relevant
Commonwealth superannuation law" substitute
"specified standards".
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 28
(2) In section 40K(3)(b) of the Hospitals
Superannuation Act 1988 for "relevant
Commonwealth superannuation law" substitute"specified standards".
28. Amendment of section 40K—consequential
(1) In section 40K(3) of the Hospitals
Superannuation Act 1988 for "sub-section (2)" substitute "sub-sections (2) and (3A)".
(2) After section 40K(3) of the Hospitals
Superannuation Act 1988 insert—
"(3A) The benefit is payable if section 40B(3D)
applies, as soon as practicable after the date that the person attains the age of 70 years.".
29. Section 40N substituted
For section 40N of the Hospitals
Superannuation Act 1988 substitute—
"40N. Transfer of preserved benefit
(1) If a benefit under this Part is required by the
specified standards to be preserved and a
participating employer has certified in
writing to the Board in accordance with
section 40B(4), the member of the new
scheme entitled to the benefit is entitled to
have the amount of preserved benefit
transferred to another complying
superannuation fund and may apply to the
Board to make the transfer.
(2) Subject to section 56A, the Board must
transfer that amount to that other complying
superannuation fund.
40O. Transfer to or from new scheme
(1) The Board may, with the consent of a
member of the new scheme or beneficiary, transfer the member of the new scheme or
Superannuation Acts (Amendment) Act 1996
| s. 30 | Act No. 4/1996 |
beneficiary to another complying
superannuation fund.(2) The Board must determine the assets that are
to be transferred from the new scheme and
the terms and conditions that are to apply to
the transfer as a result of a transfer of a
member or beneficiary under sub-section (1).
(3) The Board may accept on such terms and
conditions as the Board determines the
transfer to the new scheme of a member or
other beneficiary of another complying
superannuation fund.
40P. Transfer of benefits to other fund
(1) If a member of the new scheme or
beneficiary—
(a) is entitled to a benefit or part of a benefit under this Part which is not required by the specified standards to be preserved; and (b) is a member, or has applied to become a member, of another complying superannuation fund— the member or beneficiary is entitled to have the amount of that benefit or that part of that benefit transferred to that complying
superannuation fund and may apply to the
Board to make the transfer.(2) Subject to section 56A, the Board must
transfer that amount to that other complying
superannuation fund.".
30. Amendment of section 41
In section 41(8) of the Hospitals Superannuation
Act 1988 for "State Superannuation Board of
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 31 Victoria" substitute "Victorian Superannuation
Board".
31. Amendment of section 42
(1) In section 42(4)(b) of the Hospitals
Superannuation Act 1988 after "2%" insert "(or such other percentage as is first determined by an actuary after the commencement of section 31(1) of the Superannuation Acts (Amendment) Act 1996 and thereafter during an actuarial
investigation under section 23 and which isspecified in the actuary's report)".
(2) In section 42(4)(c) of the Hospitals
Superannuation Act 1988 after "commences"
insert—
"for a period not exceeding—(i) 7 years, if the contributor is on parental leave; or
(ii) 2 years, if the contributor is on leave for any other reason except ill-health".
(3) Section 42(5) of the Hospitals Superannuation Act 1988 is repealed.
32. Section 51A (1) amended
In section 51A(1) of the Hospitals Superannuation Act 1988 for "calculated in accordance with the occupational superannuation standards at the prescribed rate" substitute "at the rate determined under section 33(1)(b)".
33. Repeals
Sections 51A(2) and 51B of the Hospitals
Superannuation Act 1988 are repealed.
Superannuation Acts (Amendment) Act 1996
| s. 34 | Act No. 4/1996 |
34. Consequential repeal
Section 56(4) of the Hospitals Superannuation
Act 1988 is repealed.
35. New section 56A inserted
After section 56 of the Hospitals
Superannuation Act 1988 insert—
"56A. Money owing to the Fund
(1) The Board may recover any amount of
money owing to the Fund by a member,
contributor, beneficiary, participating
institution, employer or any other person
together with interest on that amount in
accordance with sub-section (2)—
(a) from the Fund to that member,
contributor, beneficiary, participatingif any amount is or becomes payable the Board deducting it from that amount; or
(b)
in any other case as a debt in any court of competent jurisdiction.
(2) Interest at the rate for the time being fixed
under section 2 of the Penalty Interest owing to the Fund calculated from the date on which the amount becomes due until the date on which the amount is paid or otherwise recovered under sub-section (1).".
36. New section 58B inserted
After section 58A of the Hospitals
Superannuation Act 1988 insert—
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 36 "58B. Specified standards
(1) The Governor in Council may by Order in
Council—
(a) specify standards and conditions for the preservation of specified employer and member contributions; and (b) specify the method, manner and form in which preserved contributions may be paid as a benefit; and (c) specify maximum fees and charges specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
of any document, code, standard, rule,
specification or method whether as
formulated, issued, prescribed ormay apply, adopt or incorporate (with Council is made.".
_______________
Superannuation Acts (Amendment) Act 1996
| s. 37 | Act No. 4/1996 |
PART 4—AMENDMENT OF LOCAL AUTHORITIES
SUPERANNUATION ACT 1988
37. Amendment of section 3—definitions
(1) In section 3(1) of the Local Authorities
Superannuation Act 1988—
(a)
for the definition of "Actuary" substitute— '"actuary" means a fellow or accredited
member of the Institute of Actuaries of
Australia approved by the Minister;';
(b)
after the definition of "Board" insert— '"casual employee" means a casual
employee as defined by the relevant
award determinations or an employee
deemed by the Board to be a casual
employee;
"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income Tax
Assessment Act 1936;'.
(c)
in the definition of "ill health" for "disability" (where first occurring) substitute "incapacity";
(d) the definition of "occupational
superannuation standards" is repealed.(e) after the definition of "service" insert—
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 38 '"specified standards" means standards
specified under section 50D;';
(2) In section 3(1) of the Local Authorities
Superannuation Act 1988 for the definition of
"disability" substitute—'"disability", in relation to a contributor, means the permanent inability of the contributor before the age of 60 years
due to a continuing or recurring injury,
disease or infirmity—
(a) to perform his or her duties; and
(b)
to perform any other duties for which he or she is suited by education, training or experience or for which he or she would be suited as a result of retraining—
as determined by the Board on the basis
of reports provided by at least 2
registered medical practitionersappointed by the Board;'.
(3) Section 3(4A) of the Local Authorities
Superannuation Act 1988 is repealed.
38. "Old benefits" Table
After section 3(1) of the Local Authorities
Superannuation Act 1988 insert—
"(1A) For the avoidance of any doubt it is hereby
declared that the Tables published in the 1902 relate to the calculation of old benefits where the contributor's most recent medical classification under the Local Authorities Superannuation Act 1958 was not the top classification.".
Superannuation Acts (Amendment) Act 1996
| s. 39 | Act No. 4/1996 |
39. Amendment of section 3—leave
In section 3(4)(b) of the Local Authorities
Superannuation Act 1988—
(a)
for "maternity" (where twice occurring) substitute "parental";
(b)
after "of a contributor" insert "for a period not exceeding 7 years if the member is on parental leave or not exceeding 2 years if the member is on leave for any other reason except ill-health";
(c)
in sub-paragraph (ii) after "2 per cent" insert "(or such other percentage as is first determined by an actuary after the commencement of section 39(c) of the Superannuation Acts (Amendment) Act 1996 and thereafter during an actuarial investigation under section 23 and which is specified in the actuary's report)".
40. Amendments relating to OSSA
(1) Sections 7(2)(da) and 7(2A) of the Local
Authorities Superannuation Act 1988 are
repealed.
(2) For section 11A(3) of the Local Authorities
Superannuation Act 1988 substitute—
"(3) A vacancy in the office of a Director must be
filled within 60 days of the vacancy
occurring.".(3) In section 11B(1) of the Local Authorities
Superannuation Act 1988 omit "Subject to any
provision to the contrary in a relevant
Commonwealth superannuation law,".
(4) Sections 54(2) and 54(4) of the Local Authorities
Superannuation Act 1988 are repealed.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 41
(5) In section 54(3) of the Local Authorities
Superannuation Act 1988 omit "relating to occupational superannuation standards".
41. Amendment of section 11A—Vacancies on Board
For section 11A(1)(e) of the Local Authorities
Superannuation Act 1988 substitute—"(e) is convicted of an offence against a law of
the State of Victoria or a law of the dishonest conduct; or".
Commonwealth or of another State or a
42. Section 12 substituted
For section 12 of the Local Authorities Superannuation Act 1988 substitute— "12. Payment of Directors
Each Director is entitled to be—
(a)
paid such remuneration as the Governor in Council fixes from time to time; and
(b)
reimbursed for expenses incurred in the course of performing the duties of office which are expenses approved by the Board.".
43. Amendment of section 27
For section 27(3)(b) of the Local Authorities
Superannuation Act 1988 substitute—"(b) interest at the rate for the time being fixed
under section 2 of the Penalty Interest unpaid from the date on which it became payable until the date on which it is paid to the Board.".
Superannuation Acts (Amendment) Act 1996
| s. 44 | Act No. 4/1996 |
44. Amendment of section 25
For section 25(5) of the Local Authorities
Superannuation Act 1988 substitute—"(5) If an agreement is in force under sub-section
(4) and despite anything to the contrary in
the agreement—
(a) elected to make contributions to the
Fund which are not less than the
contributions required of thethe contributor is deemed to have Commonwealth of Australia; and
(b)
the contributions are to be made by deductions from the salary of the contributor.".
45. Amendment of section 34
Section 34(11) of the Local Authorities Superannuation Act 1988 is repealed.
46. Amendment of section 38A
(1) In section 38A(2) of the Local Authorities
Superannuation Act 1988 for "at the prescribed
rate calculated in accordance with the
occupational superannuation standards"
substitute "as determined by the Board".
(2) In section 38A(3) of the Local Authorities
Superannuation Act 1988 for "preservation standard of the occupational superannuation standards" substitute "specified standards".
47. Amendment of section 47E
In section 47E of the Local Authorities
Superannuation Act 1988—
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 48
(a) the definitions of "Commonwealth
superannuation law" and "complying
superannuation scheme" are repealed;(b) paragraph (e) for "Commonwealth
in the definition of "net earning rate" in standards".
48. Amendment of section 47F—Membership of new scheme
(1) In section 47F(2) of the Local Authorities Superannuation Act 1988 for "any relevant Commonwealth superannuation law" substitute "sub-section (3A)".
(2) In section 47F(3) of the Local Authorities Superannuation Act 1988 for "A" substitute "For the purposes of sub-section (3A), a".
(3) After section 47F(3) of the Local Authorities
Superannuation Act 1988 insert—
"(3A) A person is eligible to remain or become a
member of the new scheme even if that
person has attained the age of 65 years if
that person is or becomes an employee of a
participating employer and sub-section (3B)
or (3C) would permit that person to make
contributions or to be the subject of
contributions to the new scheme.
(3B) Subject to sub-section (3C), a member of the new scheme is eligible to make contributions or to be the subject of contributions to the
new scheme after attaining the age of 65
years if that member was at least 60 years of
age on 1 July 1990, until that member attains
the age of 70 years.
(3C) Except as provided in sub-section (3B), a member of the new scheme is eligible to be
Superannuation Acts (Amendment) Act 1996
| s. 49 | Act No. 4/1996 |
the subject of contributions to the new to satisfy the employer's obligation to make contributions for that member under a contract of employment or any employment agreement made on or after 1 July 1986 under any law of Victoria or the Commonwealth of Australia.
scheme after the member has attained the age
of 65 years only if the contributions are
required to reduce the employer's liability
under the Commonwealth Superannuation(3D) A person to whom sub-section (3A) applies is taken for the purposes of this Act to have ceased to be an employee of a participating employer upon that person attaining the age
of 70 years.".
(4) In sections 47F(4), 47F(5), 47I(2)(d) and
47I(3)(f) of the Local Authorities
Superannuation Act 1988 for "scheme"
substitute "fund".
(5) In section 47F(6)(c) of the Local Authorities
Superannuation Act 1988 for "scheme or superannuation arrangement" substitute "fund".
49. Amendment of section 47H—member's contributions
For section 47H(3) of the Local Authorities
Superannuation Act 1988 substitute—"(3) If a person who becomes a member in
accordance with section 47F(1)(a) is
required to contribute to a superannuation
fund and his or her employer is a
participating employer who is required under
a law of the Commonwealth of Australia to
contribute to the Fund in respect of the
member under section 47G(1)—
Superannuation Acts (Amendment) Act 1996
s. 50
s. 53
Act No. 4/1996
(a)
the member is deemed to have elected to make contributions to the Fund which are not less than the contributions required of the member; and
(b)
the contributions are to be made by deductions from the salary of the member.".
50. Amendment of section 47J
At the end of section 47J(5) of the Local "and is a medical condition in respect of which a contract of insurance is not available at a reasonable cost".
51. Amendment of section 47O—preservation
(1) In section 47O(2) of the Local Authorities
Superannuation Act 1988 for "relevant
Commonwealth superannuation law" substitute
"specified standards".
(2) In section 47O(3)(b) of the Local Authorities
Superannuation Act 1988 for "relevant
Commonwealth superannuation law" substitute
"specified standards".
52. Amendment of section 47O—consequential
(1) In section 47O(3) of the Local Authorities
Superannuation Act 1988 for "sub-section (2)" substitute "sub-sections (2) and (3A)".
(2) After section 47O(3) of the Local Authorities
Superannuation Act 1988 insert—
"(3A) The benefit is payable if section 47F(3D)
applies, as soon as practicable after the date that the person attains the age of 70 years.".
53. Section 47R substituted
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
For section 47R of the Local Authorities Superannuation Act 1988 substitute—
"47R. Transfer of preserved benefit
(1) If a benefit under this Part is required by the
specified standards to be preserved and a
participating employer has certified in
writing to the Board in accordance with
section 47F(5), the member of the new
scheme entitled to the benefit is entitled to
have the amount of preserved benefit
transferred to another complying
superannuation fund and may apply to the
Board to make the transfer.
(2) Subject to section 50, the Board must
transfer that amount to that other complying
superannuation fund.
47S. Transfer to or from new scheme
(1) The Board may, with the consent of a
member of the new scheme or beneficiary, transfer the member of the new scheme or beneficiary to another complying
superannuation fund.(2) The Board must determine the assets that are
to be transferred from the new scheme and
the terms and conditions that are to apply to
the transfer as a result of a transfer of a
member or beneficiary under sub-section (1).
(3) The Board may accept on such terms and
conditions as the Board determines the
transfer to the new scheme of a member or
other beneficiary of another complying
superannuation fund.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 54 47T. Transfer of benefits to other scheme
(1) If a member of the new scheme or beneficiary—
(a) is entitled to a benefit or part of a benefit under this Part which is not required by the specified standards to be preserved; and (b) is a member, or has applied to become a member, of another complying superannuation fund— the member or beneficiary is entitled to have the amount of that benefit or that part of that benefit transferred to that complying
superannuation fund and may apply to the
Board to make the transfer.
(2) Subject to section 50, the Board must
transfer that amount to that other complying
superannuation fund.".
54. Sections 50(2) and 50A(1) amended
(1) In section 50(2) of the Local Authorities
Superannuation Act 1988 for "a rate determined from time to time by the Board" substitute "the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983".
(2) In section 50A(1) of the Local Authorities
Superannuation Act 1988 for "calculated in accordance with the occupational superannuation standards at the prescribed rate" substitute "at the rate determined under section 38(1)(b)".
Superannuation Acts (Amendment) Act 1996
| s. 55 | Act No. 4/1996 |
55. Repeal of sections 50A(2) and 50B
Sections 50A(2) and 50B of the Local
Authorities Superannuation Act 1988 arerepealed.
56. New section 50D inserted
After section 50C of the Local Authorities
Superannuation Act 1988 insert—
"50D. Specified standards
(1) The Governor in Council may by Order in
Council—
(a) specify standards and conditions for the preservation of specified employer and member contributions; and (b) specify the method, manner and form in which preserved contributions may be paid as a benefit; and (c) specify maximum fees and charges specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
of any document, code, standard, rule,may apply, adopt or incorporate (with formulated, issued, prescribed or
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 57 published at the time the Order in
Council is made.".
57. Amendment of section 53F
After section 53F(3) of the Local Authorities
Superannuation Act 1988 insert—"(3A) Without derogating from sub-sections (2)
and (3), sections 24 and 24A apply to and in
respect of transferred members.".
58. Amendment of section 53FA
(1) In section 53FA(1) of the Local Authorities Superannuation Act 1988 after "(1)" insert "Subject to sub-section (1A),".
(2) After section 53FA(1) of the Local Authorities
Superannuation Act 1988 insert—
"(1A) This section does not apply if a member of
ceases to be an employee of the Melbourne
the City of Melbourne Superannuation Fund of—
(a) Citywide Solutions Pty Ltd A.C.N. 066960085; or (b) Melbourne City Council established for
a wholly owned subsidiary of the to the City of Melbourne; or
(c) a wholly owned company in which all the equity capital is held and continues to be held by the Melbourne City Council and another Council or with the City of Melbourne and which is established for the sole purpose of providing services to all of those Councils.".
Superannuation Acts (Amendment) Act 1996
| s. 59 | Act No. 4/1996 |
59. Amendment of section 53G
After section 53G(3) of the Local Authorities
Superannuation Act 1988 insert—"(3A) Without derogating from sub-sections (2)
and (3), sections 24 and 24A apply to and in
respect of transferred members.".
60. Amendment of section 53H
After section 53H(3A) of the Local Authorities
Superannuation Act 1988 insert—
'(3B) On the commencement of section 60 of theSuperannuation Acts (Amendment) Act 1996 sub-sections (3)(b) and (3A) apply as if after "1988" there was inserted "(other than sections 24 and 24A)".'.
_______________
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 61
PART 5—AMENDMENT OF MELBOURNE AND METROPOLITAN BOARD OF WORKS ACT 1958
61. Repeal of sections 42(3) and 42A
Sections 42(3) and 42A of the Melbourne and repealed.
62. New section 42A inserted
After section 42 of the Melbourne and insert—
"42A. Water Industry Superannuation Fund
(1) The Water Industry Superannuation Fund as
constituted under and governed by the Melbourne and Metropolitan Board of Works Employees' Superannuation Fund
Regulations (Statutory Rule No. 231/1987) immediately before the commencement of this section continues, on and after that
commencement, as the Water Industry
Superannuation Fund continued in force and
governed by the Trust Deed made before that
commencement between Melbourne Water
Corporation and the Trustees of the WaterIndustry Superannuation Fund.
(2) On the commencement of this section the
Works Employees' Superannuation Fund
Melbourne and Metropolitan Board of section. (3) Except as in the Trust Deed expressly or by necessary implication provided, all persons, things and circumstances appointed or
created by or under the Melbourne and
Metropolitan Board of Works Employees'
Superannuation Acts (Amendment) Act 1996
| s. 63 | Act No. 4/1996 |
Superannuation Fund Regulations or existing or continuing under the Regulations immediately before the commencement of this section shall under and subject to the Trust Deed continue to have same status, operation and effect as they respectively would have had if the Regulations had not been revoked.
(4) No stamp duty or other tax is payable under
any Act in respect of anything done under
this section.".
63. Amendment of Regulations
In regulation A1.16(1) of the Melbourne and by virtue of this section.
Metropolitan Board of Works Employees'
Superannuation Fund Regulations (Statutory Rule
_______________
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 64
PART 6—AMENDMENT OF PARLIAMENTARY SALARIES
AND SUPERANNUATION ACT 1968
64. Amendment of sections 7 and 8—salaries and allowances
(1) For section 7(2) of the Parliamentary Salaries and Superannuation Act 1968 substitute— "(2) Subject to sub-sections (3) and (4), in the
case of any member who immediately before retirement from the Council or the Assembly by effluxion of time or immediately before
(2A) Subject to sub-sections (3) and (4), in any the dissolution of the Council or the the Assembly, any payment referred to in section 6 is to be reckoned up to but excluding the day appointed for taking the poll at the next following periodical or general election as the case may be.
case other than that specified in sub-section (2) any payment referred to in section 6 is to be reckoned up to the day when the member ceases to be a member.".
(2) In section 7(4) of the Parliamentary Salaries
and Superannuation Act 1968 after "Third Party" insert "or who holds the office of the Leader of Her Majesty's Opposition in the
Council".(3) For section 8(1) of the Parliamentary Salaries
and Superannuation Act 1968 substitute—
"(1) The Governor in Council may make
regulations for or with respect to—
(a) allowances payable under this Part; (b) the calculation of those allowances;
Superannuation Acts (Amendment) Act 1996
| s. 65 | Act No. 4/1996 |
(c) the provision of any article, motor members;
(d)
the terms and conditions which are to apply to the provision and use of such articles, motor vehicles, equipment or services;
(e)
the alteration of the amount of, or the entitlement to, any allowances that would otherwise be payable to a member who is provided with the article, motor vehicle, equipment or service;
(f)
the calculation and imposition of any contribution which the member is required to make from the salary of the member towards the cost of providing the article, motor vehicle, equipment or service;
(g)
any other matter or thing which is required or permitted to be prescribed by this Part or necessary to be prescribed to give effect to this Part.
(1A) The Regulations may apply, adopt or
incorporate (with or without modification)
the provisions of any document, code,
standard, rule, specification or method
whether as formulated, issued, prescribed or
published at the time the Regulations aremade.".
65. Amendment of definitions
In section 10(1) of the Parliamentary Salaries and Superannuation Act 1968—
(a) after the definition of "child" insert—
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 65 '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income Tax
Assessment Act 1936;';
(b) the definition of "occupational
superannuation standards" is repealed.(c)
before the definition of "secretary" insert— '"net earning rate" means in respect of any
particular period, and for any particular period and that purpose and having regard to—
purpose, the rate of earnings (which
may be positive or negative) as
determined by the Parliamentary
(a) the income derived from the investment of the Fund; and (b) any realised or unrealised gains or investments of the Fund; and
(c) any tax; and
(d)
any other relevant expenses of the Fund; and
(e) any relevant specified standards;
and(f) any other matters the
Parliamentary Trustee considers
relevant;';
Superannuation Acts (Amendment) Act 1996
| s. 66 | Act No. 4/1996 |
(d)
for the definition of "secretary" substitute— '"secretary" means a person appointed by
the Parliamentary Trustee to be the
secretary of the Parliamentary Trustee;';
(e)
after the definition of "secretary" insert— '"specified standards" means standards
specified under section 24C;'.
66. Section 11 substituted
For section 11 of the Parliamentary Salaries and
Superannuation Act 1968 substitute—"11. Parliamentary Contributory
Superannuation Fund
(1) The Fund called the Parliamentary
Contributory Superannuation Fund is
continued under this Act.
(2) The Fund is to be administered by the
Parliamentary Trustee in accordance with
this Act.
(3) All investments of the Fund held in the name
of the Victorian Superannuation Board
immediately before the commencement of
section 66 of the Superannuation Acts
(Amendment) Act 1996 are by virtue of this
section deemed to be held by the
Parliamentary Trustee.
(4) The following are to form part of the Fund—
(a)
amounts required to be paid into the Fund under this Act;
(b) investments specified in sub-section
(3);(c)
income derived from the investment of the Fund;
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 66
(d) the proceeds of the realisation of any investment of the Fund; (e) any other money or assets which the Parliamentary Trustee determines are to form part of the Fund.
(5) The Fund is to be invested in accordance
with the powers conferred on the
Parliamentary Trustee by the Borrowing
and Investment Powers Act 1987.
11A. Parliamentary Trustee
(1) For the purposes of this Act there is
established a body corporate called the
Parliamentary Trustee.
(2) The Parliamentary Trustee—
(a) has perpetual succession; and
(b) has a common seal; and
(c) may sue and be sued in its corporate name; and (d) leasing, holding, selling, exchanging
is capable of taking, purchasing, property for the purposes of this Act; and
(e)
may do and suffer all acts and things which a body corporate may by law do and suffer and which are necessary or convenient for the purposes of this Act.
(3) The common seal of the Parliamentary
Trustee—
(a)
can only be attached to a document if the Parliamentary Trustee so resolves; and
Superannuation Acts (Amendment) Act 1996
| s. 66 | Act No. 4/1996 |
(b)
must be authenticated by the signatures of 2 trustees or a trustee and the secretary.
(4) The Parliamentary Trustee is to consist of
the trustees of the Fund under section 12.
11B. Objectives and duties of the Parliamentary
Trustee
(1) The Parliamentary Trustee must—
(a) have regard to the interests of persons entitled to benefits from the Fund; and (b) ensure that the assets of the Fund are administered in accordance with this Act; and (c) of the Parliamentary Trustee are
ensure that the decisions and operations objectives; and
(d) has, or has access to, the skills,
facilities and resources required to
ensure that the Parliamentary Trusteeensure that the Parliamentary Trustee its duties in an efficient manner.
(2) It is the duty of the Parliamentary Trustee—
(a) to establish policies in respect of the administration of the Fund and the investment of money standing to the credit of the Fund and to adopt strategies designed to achieve those policies; and (b) to determine, authorise or approve Fund and the investment of money standing to the credit of the Fund; and
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 66
(c) members of the Fund about the
management and investment of thesubject to sub-section (3), to inform members of the Fund at least once in each year a summary of information relating to the management and investment of the Fund.
(3) In performing its duties under sub-section (2)(c) the Parliamentary Trustee must have regard to the need to protect information the
disclosure of which could adversely affect the financial position or the commercial or other operations of the Parliamentary
Trustee.
11C. Functions and powers of the Parliamentary
Trustee
(1) The functions of the Parliamentary Trustee
are—
(a) to administer the Fund and collect contributions; and (b) to manage and invest the asssets of the Fund so as to maximise the return earned on the Fund having regard to— (i) the need to provide for payments out of the Fund; and
to adminster the payment of benefits from the Fund; and the need to exercise reasonable maintain the integrity of the Fund; and (ii)
(c)
(d)
to make any other payments required to be made in respect of the Fund; and
Superannuation Acts (Amendment) Act 1996
| s. 67 | Act No. 4/1996 |
(e)
to perform such other functions as are conferred or imposed on the Parliamentary Trustee by this Act.
(2) Subject to this Act, the Parliamentary
Trustee has power to do all things necessary or convenient to be done for or in connection with the performance of its functions and
duties and to enable it to achieve itsobjectives.".
67. Amendment of section 12
(1) In section 12(1) of the Parliamentary Salaries
and Superannuation Act 1968 for "Treasurer of
Victoria" substitute "Minister".
(2) Sections 12(2), 12(2A) and 12(2B) of the
Parliamentary Salaries and Superannuation
Act 1968 are repealed.(3) In section 12(2C) of the Parliamentary Salaries
and Superannuation Act 1968 for "trustees"
(where twice occurring) substitute
"Parliamentary Trustee".
(4) For section 12(2D) of the Parliamentary Salaries and Superannuation Act 1968 substitute—
"(2D) The Parliamentary Trustee may, by an
instrument of delegation under its common seal, delegate to the chairman of trustees or to any other person or corporation—
(a) any function, power or duty of the Parliamentary Trustee under this Act, other than this power of delegation; or (b) any power or duty of the Parliamentary Trustee under the Borrowing and Investment Powers Act 1987.
(2E) Without limiting or derogating from the generality of the powers of the Parliamentary
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 67 Trustee under this Act, the powers of the
Parliamentary Trustee include—
(a)
power to enter into agreements or arrangements with any other person or body—
(i) Parliamentary Trustee any one or
more of the functions or powers ofto carry out on behalf of the relation to the Fund;
(ii) to provide custodial or nominee services;
(b) power to engage any person or body to act as an agent on behalf of the Parliamentary Trustee.
(2F) A trustee is not to be taken by reason of
being a trustee to hold an office or place of
profit under the Crown which would—
(a) prevent the trustee sitting or voting as a member of the Legislative Council or Legislative Assembly; or (b) make void the trustee's election to the Assembly; or
(c) prevent the trustee continuing to be a member of the Legislative Council or Legislative Assembly; or (d) subject the trustee to liability to a penalty under the Constitution Act 1975.". (5) In section 12(6) of the Parliamentary Salaries
and Superannuation Act 1968 for "trustees"
substitute "Parliamentary Trustee".
Superannuation Acts (Amendment) Act 1996
| s. 68 | Act No. 4/1996 |
(6) For sections 12(7) and 12(8) of the
Parliamentary Salaries and Superannuation
Act 1968 substitute—"(7) A matter arising at a meeting of the
Parliamentary Trustee can only be
determined by a resolution passed by not less
than
two-thirds of the total number of trustees inoffice for the time being.
(8) Subject to this Act, the Parliamentary
Trustee may regulate its own procedure.".
68. Amendment of section 13
(1) For sections 13(3A) and 13(3B) of the
Parliamentary Salaries and Superannuation
Act 1968 substitute—
"(3A) When the actuary has completed each
actuarial investigation of the Fund as at 30 June 1997 and as at the expiration of each period of 3 years thereafter, the actuary must
certify in each actuarial investigation the
amount in equal annual instalments that is
required to be paid to the Fund in each
financial year during the period from 1 July
1998 until 30 June 2015 in addition to the
other income of the Fund to enable the Fund
to extinguish its unfunded liability at the endof that period.
(3B) Despite sub-section (3A), the Treasurer of
Victoria may on the recommendation of the Parliamentary Trustee made on the advice of an actuary approve the making of payments in greater amounts than would otherwise be certified under sub-section (3A) so as to enable the unfunded liability to be extinguished before the period specified in sub-section (3A).
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 69 (3C) After the unfunded liability of the Fund has been extinguished, the Treasurer of Victoria must on the recommendation of the
Parliamentary Trustee made on the advice of an actuary approve the making of a payment to the Fund in each financial year in addition to the other income of the Fund to enable the Fund to be fully funded.".
(2) In section 13 of the Parliamentary Salaries and
Superannuation Act 1968—
(a)
in sub-section (1)(c) for "and the interim advances certified in accordance with sub-section (3A)" substitute", (3A), (3B) or (3C)";
(b) sub-sections (5) and (6) are repealed.
69. Amendment of section 14
In section 14 of the Parliamentary Salaries and
Superannuation Act 1968—
(a) before "From" insert "(1)";
(b) after "Part I" insert "during the first 20.5 years of service as a member"; (c) at the end of the section insert— "(2) After the first 20.5 years of service as a member, from each instalment of salary paid to a person pursuant to Part I who occupies an office specified in section 6(2) there is to be deducted from the
amount of that instalment the amount
equal to 11.5 per cent of that part of the
instalment that is additional salary
payable to that member by virtue of
occupying an office specified in section
6(2).".
Superannuation Acts (Amendment) Act 1996
| s. 70 | Act No. 4/1996 |
70. Amendment of section 15
After section 15(1A)(a) of the Parliamentary
Salaries and Superannuation Act 1968 insert—"(aa) TS, in relation to the person is 12 years or
more and the person ceases to be a member
as the result of a resignation or retirement
which does not require or cause the holding
of a by-election otherwise than on the day ofa general election; or".
71. Amendment of section 18B
(1) In section 18B(2) of the Parliamentary Salaries
and Superannuation Act 1968 for "interest
calculated in accordance with the occupational
superannuation standards" substitute "the net
earning rate as determined by the Parliamentary
Trustee".
(2) For section 18B(3) of the Parliamentary Salaries
and Superannuation Act 1968 substitute—
"(3) Any part of the superannuation guarantee
amount which is required to be preserved in
accordance with the specified standards mustbe so preserved.".
72. Amendment of section 22
(1) In section 22 of the Parliamentary Salaries and Superannution Act 1968 before "Where" insert "(1)".
(2) At the end of section 22 of the Parliamentary
Salaries and Superannuation Act 1968 insert—
"(2) This section only applies to a person to
whom a pension would be payable under this member on or before the commencement of section 73 of the Superannuation Acts (Amendment) Act 1996.".
Superannuation Acts (Amendment) Act 1996
s. 73
s. 73
Act No. 4/1996
73. Sections 23 and 24 substituted
For sections 23 and 24 of the Parliamentary
Salaries and Superannuation Act 1968
substitute—
"23. Entitlement to pension(1) The entitlement of a former member to receive a pension under this Part ceases—
(a) if the former member again becomes a member of the Parliament, on the day that he or she becomes a member of the Parliament; or
(b)
if any part of any entitlement under this Part or membership of the Fund is recognised as entitlement towards any benefit in a complying superannuation fund and there is a transfer of assets from the Fund to that complying superannuation fund in accordance with sub-section (2), on the day determined by the Parliamentary Trustee.
(2) If sub-section (1)(b) applies, the
Parliamentary Trustee must on the recommendation of an actuary transfer from the Fund to the relevant complying superannuation fund an amount certified by the actuary to be equivalent to the former member's entitlement under this Part.
(3) The Parliamentary Trustee is released from any liability to make any further payments to, or in respect of, any entitlement of the
former member or or any spouse or children
of the former member as soon as the certified
amount is transferred to the relevant
complying superannuation fund.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
(4) The entitlement of a former member to
receive a pension under this Part does not
cease otherwise than in accordance with this
section.
24. Transfer of preserved benefit
(1) If a benefit under this Part is required by the
specified standards to be preserved, a former
member is entitled to have the amount of
preserved benefit transferred to another
complying superannuation fund nominated
by the former member to the Parliamentary
Trustee and may apply to the Parliamentary
Trustee to make the transfer.(2) Subject to section 24A, the Parliamentary Trustee must transfer that amount to that other complying superannuation fund.
24A. Money owing to the Fund
(1) The Parliamentary Trustee may recover any
amount of money owing to the Fund by a
member, former member, beneficiary or any
other person together with an interest on that
amount in accordance with sub-section (2)—
(a)
if any amount is or becomes payable from the Fund to that member, former member, beneficiary or other person by the Parliamentary Trustee deducting it from that amount; or
(b)
in any other case as a debt in any court of competent jurisdiction.
(2) Interest at the rate for the time being fixed
under section 2 of the Penalty Interest owing to the Fund calculated from the date on which the amount becomes due until the
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 73 date on which the amount is paid or
otherwise recovered under sub-section (1).
24B. Person may request Parliamentary Trustee to reconsider decision
(1) A person who is affected by a decision of the
Parliamentary Trustee which relates to the entitlement of any person to any benefit or entitlement under this Part may, by written notice given to the Parliamentary Trustee
within 30 days after the decision comes to
the notice of the person, request the
Parliamentary Trustee to reconsider the
decision.(2) The Parliamentary Trustee may, on receipt of a written application, extend or further extend, the time for the giving of notice to the Parliamentary Trustee requesting the
Parliamentary Trustee to reconsider a
decision.(3) The request must set out the grounds on which the request is made.
(4) On receipt of the request, the Parliamentary
Trustee must reconsider the decision, and may confirm or vary the decision in any way the Parliamentary Trustee thinks fit.
(5) The Parliamentary Trustee must, within 30 days after receipt of the request, by written notice inform the person who made the
request of the result of the Parliamentary Trustee's reconsideration of the decision.
(6) An application may be made to the
Administrative Appeals Tribunal for review
of—
(a) a decision under sub-section (2); or
Superannuation Acts (Amendment) Act 1996
s. 73
| s. 74 | Act No. 4/1996 |
(b)
a decision of the Parliamentary Trustee which has been confirmed or varied under sub-section (4).
24C. Specified standards
(1) The Governor in Council may by Order in
Council—
(a) specify standards and conditions for the preservation of specified employer and member contributions; and (b) specify the method, manner and form in which preserved contributions may be paid as a benefit; and (c) specify maximum fees and charges impose on specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
of any document, code, standard, rule,
specification or method whether as
formulated, issued, prescribed ormay apply, adopt or incorporate (with Council is made.".
74. Amendment of section 25
Section 25(2) of the Parliamentary Salaries and
Superannuation Act 1968 is repealed.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
75. Consequential amendments
In the Parliamentary Salaries and
Superannuation Act 1968—
(a) 13(2), 17 and 18 for "trustees" (wherever
in sections 10(1) (definition of "child"), Trustee";
(b)
in section 17(3) for "they" substitute "the Parliamentary Trustee";
(c)
in section 18(6) for "think" (where twice occurring) substitute "considers";
(d) in section 18(10)—
(i) for "their" substitute "its";
(ii) for "they see" substitute "the Parliamentary Trustee considers".
76. Amendment to Borrowing and Investment Powers Act 1987
At the end of Schedule 1 of the Borrowing and
Investment Powers Act 1987 insert—"39. Parliamentary
Trustee 5, 12, 20, 20A, 21, 22".
_______________
Superannuation Acts (Amendment) Act 1996
| s. 77 | Act No. 4/1996 |
PART 7—AMENDMENT OF PUBLIC SECTOR
SUPERANNUATION (ADMINISTRATION) ACT 1993
77. Amendment of section 3—definitions
In section 3(1) of the Public Sector
Superannuation (Administration) Act 1993—
(a) for the definition of "casual employee" '"casual employee" means a casual
employee as defined by the relevant
award determinations or an employee
deemed by the Board to be a casualemployee;';
(b) the definitions of "Commonwealth
superannuation law" and "occupational
superannuation standards" are repealed.(c) for the definition of "complying '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993
which is a complying superannuation
fund or a complying approved
deposit fund within the meaning of
Part IX of the CommonwealthIncome Tax Assessment Act 1936;';
(d) paragraph (e) for "Commonwealth
in the definition of "net earning rate" in standards";
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 78
(e) after the definition of "public sector '"specified standards" means standards
specified under section 68A;'.
78. Amendment of section 4
For section 4(3) of the Public Sector
Superannuation (Administration) Act 1993
substitute—"(3) This Act ceases to apply to and in respect of
a public sector superannuation scheme which
the Minister declares by instrument in
writing is a regulated superannuation fund
under the Commonwealth SuperannuationIndustry (Supervision) Act 1993.".
79. Amendment of section 6
(1) Section 6(1)(b) of the Public Sector
Superannuation (Administration) Act 1993 is
repealed.
(2) After section 6(3) of the Public Sector
Superannuation (Administration) Act 1993
insert—
"(4) If the Minister at any time gives theChairperson a statement of government policy on any matter that is relevant to the performance of the duties of the Board, together with a request that the Board considers that policy in the performance of its duties, the Board must ensure that consideration is given to that policy.
(5) If the Minister gives a statement to the
Chairperson under sub-section (4), the Board must publish that statement in its next annual report.".
Superannuation Acts (Amendment) Act 1996
| s. 80 | Act No. 4/1996 |
80. Amendment of section 11—vacancies on Board
For section 11(1)(e) of the Public Sector
Superannuation (Administration) Act 1993
substitute—"(e) is convicted of an offence against a law of
the State of Victoria or a law of the dishonest conduct; or".
Commonwealth or of another State or of a
81. Amendment of section 11
For section 11(3) of the Public Sector
Superannuation (Administration) Act 1993
substitute—"(3) A vacancy in the office of a Director must be
filled within 60 days of the vacancy
occurring.".
82. Amendments relating to OSSA
(1) In section 12(1) of the Public Sector
Superannuation (Administration) Act 1993 omit "Subject to any provision to the contrary in a relevant Commonwealth superannuation law,".
(2) Section 69(2) of the Public Sector
Superannuation (Administration) Act 1993 is
repealed.
83. Amendment of section 31
(1) In section 31(2) of the Public Sector
Superannuation (Administration) Act 1993 for
"any relevant Commonwealth superannuation
law" substitute "sub-section (3A)".
benefits as a member of the Water Industry
Superannuation Fund.78. Provisions relating to transfer of assets and liabilities
No stamp duty or other tax is payable under any Act in respect of anything done under section 76.'.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 106
PART 9—AMENDMENT OF STATE
SUPERANNUATION ACT 1988
106. Amendment of section 3(1)—definitions
(1) In section 3(1) of the State Superannuation Act
1988—
(a)
for the definition of "Actuary" substitute— '"actuary" means a fellow or accredited
member of the Institute of Actuaries of
Australia approved by the Minister;';
(b)
after the definition of "child" insert— '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income TaxAssessment Act 1936;';
(c)
the definitions of "Government Actuary" and "occupational superannuation standards" are repealed;
(d)
after the definition of "secondment" insert— '"specified standards" means standards
specified under section 92A;'.
(2) In section 3(1) of the State Superannuation Act 1988, in the definition of "ill health" in paragraph (b), after "employment" insert "or returns to
employment with an employing authority".
Superannuation Acts (Amendment) Act 1996
| s. 107 | Act No. 4/1996 |
107. Amendment of section 4
(1) In section 4(1) of the State Superannuation Act
1988 after "(1)" insert "Subject to sub-section
(1A),".
(2) After section 4(1) of the State Superannuation Act 1988 insert—
"(1A) For the purpose of this section, the Victorian
Superannuation Fund constituted under the
Public Sector Superannuation
(Administration) Act 1993 is deemed to
have ceased to be a prescribed
superannuation scheme on 19 December
1995.".
108. Amendments relating to OSSA
(1) Sections 6(2)(ba) and 6(2A) of the State
Superannuation Act 1988 are repealed.
(2) Sections 28(6) and 50(10) of the State
Superannuation Act 1988 are repealed. (3) In section 61A(3)(b) of the StateSuperannuation Act 1988 for "occupational
superannuation standards" substitute "specifiedstandards".
(4) For section 71(1C) of the State Superannuation
Act 1988 substitute—
"(1C) Any part of the superannuation guarantee
amount which is required to be preserved in
accordance with the specified standards must
be preserved.".
(5) Sections 71(2), 71A and 92(1A) of the State Superannuation Act 1988 are repealed.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 109
109. Merger of Funds
After section 16 of the State Superannuation Act
1988 insert—
"16AA. Merger of Funds
(1) On the commencement of section 109 of the
Superannuation Acts (Amendment) Act 1996, the assets and liabilities of the State Employees Retirement Benefits Fund and the
Transport Superannuation Fund are by virtue of this section transferred to the Fund and form part of the Fund.
(2) On and after the commencement of section
109 of the Superannuation Acts
(Amendment) Act 1996—
(a) payments and repayments into the Fund
by employers and any other money
received or recovered by the Board
under the State Employeesthe contributions of employees and the be paid into the Fund;
(b) payments and repayments into the Fund
by a transport authority and any other
money received or recovered by the
Board under the Transportthe contributions of members and the paid into the Fund;
(c)
the benefits provided for in the State Employees Retirement Benefits Act 1979 and all the costs of administering that Act are to be paid out of the Fund;
(d)
the benefits provided for in the Transport Superannuation Act 1988
Superannuation Acts (Amendment) Act 1996
| s. 110 | Act No. 4/1996 |
| and all the costs of administering that Act are to be paid out of the Fund. |
(3) No stamp duty or other tax is chargeable
under any Act in respect of anything done
under this section.
(4) The transfer effected by this section does not affect the benefits and entitlements conferred or the duties and obligations imposed under
the State Employees Retirement Benefits
Act 1979 or the Transport SuperannuationAct 1988.".
110. Amendments relating to rates
(1) In sections 34(6), 43(1), 49(8) and 49(9) of the
State Superannuation Act 1988 for "prescribed rate" substitute "rate which is the prescribed rate under section 46(1)".
(2) In section 53(7) of the State Superannuation Act
1988 for "prescribed rate" substitute "rate which
is the prescribed rate under section 58(1)".
(3) In section 61(2A)(a) of the State Superannuation
Act 1988 for "prescribed rate" substitute "rate which is the prescribed rate under section 46(1)".
(4) In section 69B(3)(a) of the State Superannuation
Act 1988 for "prescribed rate" substitute "rate
which is the prescribed rate under section 46(1) or
58(1) as appropriate".
(5) In section 71(1) of the State Superannuation Act 1988 for "prescribed rate calculated in accordance with the occupational superannuation standards"
substitute "rate which is the prescribed rate under
section 46(1) or 58(1) as appropriate".
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 111
111. Amendment of section 49
(1) In section 49(1) of the State Superannuation Act
1988—
(a) after "period of the leave" insert "for a period not exceeding 7 years if the member is on parental leave or not exceeding 2 years if the member is on leave for any other reason except ill-health"; (b) in paragraph (b) after "commences" insert "or at such other rate as is first determined by an actuary after the commencement of section 111(1) of the Superannuation Acts (Amendment) Act 1996 and thereafter during an actuarial investigation under section 23 and which is specified in the actuary's report".
(2) In section 49(2) of the State Superannuation Act
1988—
(a) omit "and" after paragraph (c); and
(b) paragraph (d) is repealed.
112. Amendment of sections 59 and 66
(1) In section 59(1) of the State Superannuation Act
1988 for "of salary immediately before the commencement of the leave" substitute— "(or such other percentage as is first determined
by an actuary after the commencement of section
112(1) of the Superannuation Acts
(Amendment) Act 1996 and thereafter during an
actuarial investigation under section 23 and which
is specified in the actuary's report) of salary
immediately before the commencement of theleave for a period not exceeding—
(a)
7 years, if the member is on parental leave; or
Superannuation Acts (Amendment) Act 1996
| s. 113 | Act No. 4/1996 |
(b)
2 years, if the member is on leave for any other reason except ill-health".
(2) In section 59(1A), of the State Superannuation
Act 1988—
(a) omit "and" after paragraph (c);
(b) paragraph (d) is repealed.
(3) In section 66 of the State Superannuation Act
1988 after "reduction" insert—
"for a period not exceeding—
(a)
7 years, if the member is on parental leave; or
(b)
2 years, if the member is on leave for any other reason except ill-health".
113. Amendment of sections 67 and 76
(1) In section 67(2) of the State Superannuation Act
1988—
(a) after "under this Act" insert "(other than a disability pension)"; and (b) after "any pensioner" insert "who continues to be an officer and".
(2) In section 76(3) of the State Superannuation Act
1988 after "retirement" (where first occurring)
insert "because the pensioner is unable to perform
the previous duties due to ill health".
114. New section 67A inserted
After section 67 of the State Superannuation Act
1988 insert—
"67A. Entitlement to pension
(1) The entitlement of a former officer to receive a pension under this Act ceases if any part of any entitlement under this Act or
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 115 membership of the Fund is recognised as
entitlement towards any benefit in a
complying superannuation fund and there is
a transfer of assets from the Fund to that
complying superannuation fund in
accordance with
sub-section (2), on the day determined by the
Board.(2) The Board must on the recommendation of
an actuary transfer from the Fund to the
relevant complying superannuation fund an
amount certified by the actuary to be
equivalent to the former officer's entitlement
under this Act.
(3) The Board is released from any liability to make any further payments to, or in respect of, any entitlement of the former officer or of
any of his or her dependants.
(4) The entitlement of a former officer to receive a pension under this Act does not cease if the entitlement under this Act or membership of the Fund is not recognised as entitlement
towards any benefit in a complying
superannuation fund.".
115. Amendment of section 90
In section 90(2) of the State Superannuation Act
1988 for "an employing authority or class of
employing authority under section 90A"
substitute—"—
(a)
an employing authority or class of employing authority under section 90A; or
(b)
an employer or class of employer within the meaning of section 25(5) of the State
Superannuation Acts (Amendment) Act 1996
| s. 116 | Act No. 4/1996 |
Employees Retirement Benefits Act 1979;
or
(c) authority within the meaning of section 27(5)
a transport authority or class of transport 1988".
116. New section 92A inserted
After section 92 of the State Superannuation Act
1988 insert—
"92A. Specified standards
(1) The Governor in Council may by Order in
Council—
(a) specify standards and conditions for the preservation of specified employer and member contributions; and (b) specify the method, manner and form in which preserved contributions may be paid as a benefit; and (c) specify maximum fees and charges specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
may apply, adopt or incorporate (with specification or method whether as
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 117 formulated, issued, prescribed or published at the time the Order in Council is made.".
117. Amendment of section 94
After section 94(1B) of the State
Superannuation Act 1988 insert—"(1C) Without derogating from sub-sections (1A) and (1B), sections 83 and 85 apply to and in respect of a transferred member.".
118. New sections inserted
After section 95 of the State Superannuation Act
1988 insert—'96. Provisions relating to certain water
authorities
(1) In this section—
"transfer date" means 17 June 1996 or such
earlier date as is specified in the
agreement;
"water authority" means—
(a) the Melbourne Water Corporation;
(b) City West Water Ltd;
(c) South East Water Ltd;
(d) Yarra Valley Water Ltd.
(2) On the transfer date an employee of a water
authority who immediately before the
transfer date is a member of the Fund is
transferred to the Water Industry
Superannuation Fund.
(3) Despite the transfer of a member under this
section to the Water Industry Superannuation
Fund—
Superannuation Acts (Amendment) Act 1996
| s. 118 | Act No. 4/1996 |
(a) the member is entitled to receive the same benefits that he or she would have been entitled to receive had he or she not been so transferred; and (b) the member is entitled to have his or accordance with this Act (other than sections 83 and 85) as in force immediately before that transfer.
(4) For the purposes of sub-section (3) the
trustees of the Water Industry member the duties and powers conferred on the Board by or under this Act (other than sections 83 and 85) as in force immediately before the transfer. (5) With the approval of the Minister, the Board
must enter into an agreement with the
trustees of the Water Industry
Superannuation Fund which specifies—
(a) the liability of the Fund up to the date of transfer in respect of the entitlements of transferred members as determined by an actuary appointed by the Board; and (b) the value of assets of the Fund equal to the liability of the Fund under paragraph (a) that are to be transferred to the Water Industry Superannuation Fund; and (c) the terms and conditions which apply to the transfer of these assets to the Water Industry Superannuation Fund. (6) If agreement cannot be reached before 1 June 1996, the Minister may determine the
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 118 matters specified in sub-section (5) or which are in dispute and the Board and the trustees of the Water Industry Superannuation Fund are deemed by virtue of this sub-section to have entered into an agreement containing the matters determined by the Minister.
(7) The Board must transfer the assets specified
in the agreement to the Water Industry
Superannuation Fund.
(8) As soon as the assets specified in the
agreement have been transferred the assets
form part of the Water Industry
Superannuation Fund.(9) The Board is released from any liability in
respect of the entitlements of transferred
members as soon as the assets specified in
the agreement have been transferred.
97. Provision relating to change of employment
(1) If a person to whom section 96 applies
ceases to be an employee of a water
authority so as to become an employee of
another water authority, the person becomes
from the date of commencement of
employment with the other water authority a
member of the Water Industry
Superannuation Fund with a resignation
benefit and an accrued retirement benefit
entitlement calculated in accordance withsub-section (2).
(2) The resignation benefit and accrued
becoming a member of the Water Industry
retirement benefit entitlement to the date of to be calculated in accordance with this Act and certified by an actuary appointed by the trustees of the Water Industry
Superannuation Acts (Amendment) Act 1996
| s. 118 | Act No. 4/1996 |
Superannuation Fund after having been translated into the corresponding benefit entitlements under the governing instrument
of the Water Industry Superannuation Fund.
(3) From the date of becoming a member of theWater Industry Superannuation Fund under
this section a person is entitled to receive
benefits as a member of the Water Industry
Superannuation Fund.98. Provisions relating to transfer of assets and liabilities
No stamp duty or other tax is payable under any Act in respect of anything done under section 96.'.
_______________
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 119
PART 10—AMENDMENT OF SUPERANNUATION (PUBLIC
SECTOR) ACT 1992
119. Amendments
(1) In section 3(1) of the Superannuation (Public Sector) Act 1992—
(a) after the definition of "administrators" '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income TaxAssessment Act 1936;';
(b) the definition of "occupational
superannuation standards" is repealed.
(2) In section 5 of the Superannuation (Public
Sector) Act 1992 omit "but must not be read so as to be inconsistent with the occupational superannuation standards".
(3) In section 7(4) of the Superannuation (Public
Sector) Act 1992 for "complying fund in
accordance with the occupational superannuation
standards" substitute "complying superannuation
fund".
(4) Part 3 of the Superannuation (Public Sector) Act 1992 is repealed.
_______________
Superannuation Acts (Amendment) Act 1996
| s. 120 | Act No. 4/1996 |
PART 11—AMENDMENT OF SUPERANNUATION
(PORTABILITY) ACT 1989
120. Amendment of section 3—definitions
In section 3(1) of the Superannuation
(Portability) Act 1989 after the definition of
"administrators" insert—'"complying superannuation fund" means a
superannuation entity or a superannuation
fund within the meaning of section 10 of the
Commonwealth Superannuation Industry
(Supervision) Act 1993 which is a
complying superannuation fund or a
complying approved deposit fund within the
meaning of Part IX of the CommonwealthIncome Tax Assessment Act 1936;';
121. Amendment of section 6
For section 6(3)(b)(ii) of the Superannuation
(Portability) Act 1989 substitute—"(ii) a member of the Port of Melbourne
Authority Superannuation Scheme—".
122. New section 9 inserted
After section 8 of the Superannuation
(Portability) Act 1989 insert—
'9. Option relating to certain members
(1) In this section—"approved employer" means an employer declared under section 5(1)(c) to be an approved employer in respect of the
employment of persons who are
officers;
"officer" means a member of a statutory superannuation scheme;
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 122 "transfer period" means—
(a) in sub-section (2)(a), the period of
6 months commencing on the date
on which the officer became anin the case of an officer specified employer;
(b) in sub-section (2)(b), the period of
2 months commencing on the date
on which the officer becomes anin the case of an officer specified employer.
(2) This section applies to an officer—
(a) who was an officer or employee of the Public Transport Corporation in the railway workshop at Bendigo on 7 February 1996; or (b) who is a member of a class of persons declared to be officers to whom this section applies by the Minister by instrument in writing for the purposes of this section. (3) An officer who accepts employment with the
approved employer may elect during the
transfer period to transfer the transfer
amount to a complying superannuation fund.
(4) The transfer amount and the terms and conditions that apply in respect of the transfer are to be determined by the Minister.
(5) The administrators must pay into the
statutory superannuation scheme payments
received for superannuation provision in
respect of the statutory superannuation
scheme from any person liable for the
Superannuation Acts (Amendment) Act 1996
| s. 123 | Act No. 4/1996 |
unfunded liability relating to any transfer
amount transferred from that statutorysuperannuation scheme.
(6) The administrators must pay out of the
amount, after deducting any tax required to
be paid under the Commonwealth Incomestatutory superannuation scheme the transfer complying superannuation fund. (7) If an officer does not make an election in
accordance with sub-section (3), the officer
is deemed to have elected to transfer the
transfer amount to a complying
superannuation fund nominated by the
approved employer.
(8) No stamp duty or other tax is payable under
any Act in respect of anything done under
this section.
(9) The administrators are released from any liability in respect of the entitlements of officers to whom sub-section (6) applies as
soon as the transfer amount is paid to the
relevant complying superannuation fund.'.
123. Amendment of section 10
For sections 10(2), 10(3) and 10(4) of the Superannuation (Portability) Act 1989 substitute—
"(2) Any dispute relating to benefit entitlements
under this Act must be determined in the first
place by the administrators.
(3) Any person aggrieved by a decision of the
administrators may apply to the
Administrative Appeals Tribunal for a
review of the decision.".
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 124
PART 12—AMENDMENT OF TRANSPORT
SUPERANNUATION ACT 1988
124. Amendment of section 3(1)—definitions 1988—
(a)
for the definition of "actuary" substitute— '"actuary" means a fellow or accredited
member of the Institute of Actuaries of
Australia approved by the Minister;';
(b)
after the definition of "Board" insert— '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income TaxAssessment Act 1936;';
(c)
for the definition of "Fund" substitute— '"Fund" has the same meaning as in section
3(1) of the State Superannuation Act
1988;';
(d)
the definitions of "Government Actuary" and "occupational superannuation standards" are repealed;
(e)
after the definition of "service" insert— '"specified standards" means standard
specified under section 53;';
Superannuation Acts (Amendment) Act 1996
| s. 125 | Act No. 4/1996 |
125. Amendment of section 4
(1) In section 4(5) of the Transport Superannuation Act 1988 after "(5)" insert "Subject to sub-section (5A)".
(2) After section 4(5) of the Transport
Superannuation Act 1988 insert—"(5A) For the purposes of this section, the
Victorian Superannuation Fund constituted
under the Public Sector Superannuation
(Administration) Act 1993 is deemed to
have ceased to be a prescribed
superannuation scheme on 19 December
1995.".
126. Amendments relating to OSSA
In the Transport Superannuation Act 1988— (a) sections 6(2)(ba) and 6(2A) are repealed; (b) section 28(8) is repealed;
(c) in section 35(5) omit—
(i) "or" after paragraph (b); and
(ii) paragraph (c);
(d)
sections 37(1A), 44A, 44B and 52(1A) are repealed.
127. Repeal of Part 3 (except section 22)
Part 3 (except section 22) of the Transport
Superannuation Act 1988 is repealed.
128. Amendment of section 27
After section 27(3) of the Transport Superannuation Act 1988 insert— '(4) If a transport authority does not within 14
days after an amount has become payable
pay the whole of that amount to the Board,
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 129 the transport authority must pay interest at
the rate for the time being fixed under
section 2 of the Penalty Interest Rates Act
1983 on the amount remaining unpaid from
the date on which it becomes payable untilthe date on which it is paid to the Board.
(5) In this section, "transport authority"
means—
(a) a transport authority within the authority" in section 3(1); and
(b)
any other person, authority or body declared by the Minister by notice published in the Government Gazette to
be a transport authority in respect of an
employee, pensioner or beneficiary.(6) The Minister may by notice published in the
Government Gazette declare a class or classes of transport authority for the purposes of sub-section (5).'.
129. Amendment of section 31
In section 31(4) of the Transport
Superannuation Act 1988 in the definition of
"D" after "retirement" insert "less any lump sum
payment made by the Board under sub-section(3)(a)".
130. Amendments relating to rates
(1) In section 30(3) of the Transport
Superannuation Act 1988 for "prescribed rate" substitute "rate which is the prescribed rate under section 35(1)".
(2) In section 35A(2) of the Transport
Superannuation Act 1988 for "prescribed rate calculated in accordance with the occupational
Superannuation Acts (Amendment) Act 1996
| s. 131 | Act No. 4/1996 |
superannuation standards" substitute "rate which
is the prescribed rate under section 35(1)".
131. Amendment relating to specified standards
(1) In section 34A(2)(b) of the Transport
Superannuation Act 1988 for "occupational
superannuation standards" substitute "specifiedstandards".
(2) In section 35(4) of the Transport
Superannuation Act 1988 for "from the age of
55 years until the age of 65 years" substitute
"from the age of 55 years except for that part of
the deferred benefit which is subject to the
specified standards".(3) For section 35A(3) of the Transport
Superannuation Act 1988 substitute—
"(3) Any part of the superannuation guarantee
amount which is required to be preserved in
accordance with the specified standards mustbe so preserved.".
132. Amendment of section 37
In section 37(1) of the Transport investigation under section 22 and which is specified in the actuary's report) of salary immediately before the commencement of the leave for a period not exceeding—
Superannuation Act 1988 for "of salary
immediately before the commencement of the
leave" substitute—
"(or such other percentage as is first determined
by an actuary after the commencement of section
132 of the Superannuation Acts (Amendment)
(a)
7 years, if the member is on parental leave; or
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 133
(b)
2 years, if the member is on leave for any other reasons except ill-health".
133. New section 53 inserted
After section 52 of the Transport
Superannuation Act 1988 insert—"53. Specified standards
(1) The Governor in Council may by Order in
Council—
(a) specify standards and conditions for the preservation of specified employer and member contributions; and (b) specify the method, manner and form in which preserved contributions may be paid as a benefit; and (c) specify maximum fees and charges specified types of benefits.
(2) An Order in Council made under this
section—
(a) must be published in the Government Gazette; (b) takes effect on and from the date on which it is published or any later date of commencement as may be specified in the Order in Council; (c) or without modification) the provisions
of any document, code, standard, rule,
specification or method whether as
formulated, issued, prescribed ormay apply, adopt or incorporate (with Council is made.".
_______________
Superannuation Acts (Amendment) Act 1996
| s. 134 | Act No. 4/1996 |
PART 13—REPEALS AND MISCELLANEOUS
134. Repeals and miscellaneous
(1) In the Coal Mines (Pensions) Act 1958—
(a) sections 100 and 132(2) are repealed;
(b)
in section 132(3) omit "relating to occupational superannuation standards".
(2) Sections 84(5), 115A, 134, 153 and 153T of the
Electricity Industry Act 1993 are repealed.
(3) Section 148 of the Gaming and Betting Act 1994
is repealed.
(4) Sections 87(3) and 87B of the Gas Industry Act 1994 are repealed.
(5) Section 12 of the Grain Handling and Storage Act 1988 is repealed.
(6) Division 2 of Part 11 of the Marine Act 1988 is
repealed.
(7) In the Police Regulation Act 1958—
(a) sections 67A, 67B(2), 67C and 67D are repealed; (b) accordance with the occupational
in section 67B(1) for "calculated in rate" substitute "as determined by the ESS Board".
(8) Sections 13(5) and 13(6) of the Port of Geelong Authority Act 1958 are repealed.
(9) Sections 36(4) and 36(5) of the Port of Melbourne Authority Act 1958 are repealed.
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996 s. 134
(10) In the Port Services Act 1995—
(a) "complying superannuation scheme"
in section 117 for the definition of '"complying superannuation fund" means
a superannuation entity or a
superannuation fund within the
meaning of section 10 of the
Commonwealth Superannuation
Industry (Supervision) Act 1993 which
is a complying superannuation fund or
a complying approved deposit fund
within the meaning of Part IX of the
Commonwealth Income TaxAssessment Act 1936;';
(b) "complying superannuation scheme"
in sections 123(1), 123(3) and 123(7) for fund".
(11) The Superannuation Acts (General
Amendment) Act 1995 is repealed.
(12) The Superannuation Acts (Miscellaneous
Amendments) Act 1995 is repealed.
(13) Section 175 of the Water Industry Act 1994 is
repealed.
═══════════════
Superannuation Acts (Amendment) Act 1996
Act No. 4/1996
NOTES
†
Minister's second reading speech—
Legislative Assembly: 16 May 1996
Legislative Council: 4 June 1996
The long title for the Bill for this Act was "to amend the Emergency
Services Superannuation Act 1986, the Hospitals Superannuation Act
1988, the Local Authorities Superannuation Act 1988, the Melbourne
and Metropolitan Board of Works Act 1958, the Parliamentary
Salaries and Superannuation Act 1968, the Public Sector
Superannuation (Administration) Act 1993, the State Employees
Retirement Benefits Act 1979, the State Superannuation Act 1988, the
Superannuation (Public Sector) Act 1992, the Superannuation
(Portability) Act 1989, the Transport Superannuation Act 1988 and
certain other Acts, to repeal the Superannuation Acts (General
Amendment) Act 1995 and the Superannuation Acts (Miscellaneous
Amendments) Act 1995 and for other purposes."
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